Real estate promises to be rescued, VN-Index increases strongly
The online conference to evaluate the implementation results of Resolution No. 33/NQ-CP dated March 11, 2023 of the Government and propose solutions to remove difficulties and obstacles for the real estate market took place yesterday.
Information about the results of Resolution No. 33/NQ-CP promises to bring a brighter future for the real estate market. This is the main reason why the stock market on August 4 exploded with the leadership of real estate and construction stocks. Of which, the most notable are VIC of Vingroup and NVL of Novaland.
At the beginning of the August 4 stock market session, VN-Index increased slightly. Investors were both worried and "putting money in". The explosion only really appeared after the lunch break. Right from the beginning of the afternoon session, money flowed into the market to support VN-Index. Towards the end of the session, the heat became stronger.
The stock market session on August 4 recorded the VN-Index with the strongest growth rate in Asia when the real estate market promised to be rescued. Illustrative photo
Closing the stock market session on August 4, VN-Index increased by 15.03 points, equivalent to 1.24% to 1,225.98 points; VN30-Index increased by 20.62 points, equivalent to 1.7% to 1,241.42 points.
The liquidity of the August 4th stock market session continued to be very high. Nearly 1.23 billion shares, equivalent to VND23,094 billion, were successfully traded. The VN30 group recorded 336 million shares, equivalent to VND9,820 billion, transferred.
In the stock market session on August 4, the entire Ho Chi Minh City Stock Exchange recorded 343 stocks decreasing in price (21 stocks hitting the ceiling), 54 stocks remaining unchanged and 127 stocks decreasing in price. The VN30 group had 22 stocks increasing in price, 1 stock remaining unchanged and 7 stocks decreasing in price.
The focus of the stock market session on August 4 was real estate stocks, of which the most impressive were Vingroup's VIC and Novaland's NVL.
Closing the stock market session on August 4, VIC hit the ceiling, up 4,000 VND/share to 62,200 VND/share, NVL increased 1,250 VND/share to 19,800 VND/share.
Some other small and medium-sized real estate and construction stocks also closed the August 4 stock session in purple such as DC4, HPX, HQC, HTN, TCH, etc.
On the Hanoi Stock Exchange, indices also increased sharply but with slow liquidity growth.
At the close of the stock market session on August 4, the HNX-Index increased by 2.64 points, equivalent to 1.1% to 242.41 points; the HNX30-Index increased by 9.7 points, equivalent to 2.02% to 489.44 points. The entire floor had 108 million shares, equivalent to 1,831 billion VND, successfully traded.
VN-Index increased the most in Asia
With the above growth momentum, HNX30-Index has become one of the main indexes with the strongest growth rate in the Asian stock market.
Asia-Pacific markets were mixed on Friday as rising bond yields continued to weigh on stocks following a US credit downgrade.
IG market analyst Tony Sycamore noted that the US 30-year bond yield rose 14 basis points overnight to 4.30%, taking the yield to a peak of 4.42% in October 2022.
“Longer-term yields are moving higher, driven by gross bond issuance, solid data and a Fitch downgrade earlier in the week,” Sycamore said.
In Asia, the Reserve Bank of Australia cut its growth outlook for 2023 but said inflation was “on track.” The S&P/ASX 200 rose 0.19% to close at 7,325.3.
Japan's Nikkei 225 index rose 0.1% to end the day at 32,192.75, while the Topix posted a larger gain of 0.28% to close at 2,274.63.
South Korea's Kospi fell 0.1% to close at 2,602.8 and extended its losing streak to three days, while the Kosdaq fell 0.21% to end at 918.43.
Hong Kong's Hang Seng Index pared earlier gains and rose 0.58%, while mainland markets were also higher. The Shanghai Composite rose 0.32% while the Shenzhen Component rose 0.74%.
Source
Comment (0)